Digital Turbine (NASDAQ:APPS) Updates FY 2022 Earnings Guidance

Digital Turbine (NASDAQ:APPSGet Rating) issued an update on its FY 2022 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $1.66-$1.68 for the period, compared to the consensus earnings per share estimate of $1.67. The company issued revenue guidance of -.

Shares of NASDAQ:APPS opened at $25.51 on Tuesday. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 55.46, a price-to-earnings-growth ratio of 0.29 and a beta of 2.34. The firm’s 50 day moving average price is $35.62 and its 200 day moving average price is $45.86. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.70. Digital Turbine has a fifty-two week low of $21.60 and a fifty-two week high of $93.98.

APPS has been the topic of several analyst reports. Macquarie lowered their target price on Digital Turbine from $80.00 to $70.00 and set an outperform rating on the stock in a research note on Wednesday, February 9th. StockNews.com began coverage on shares of Digital Turbine in a research note on Thursday, March 31st. They set a sell rating on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $101.20.

In related news, Director Robert M. Deutschman acquired 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 14th. The shares were acquired at an average price of $31.66 per share, with a total value of $474,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michelle M. Sterling bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The stock was purchased at an average cost of $36.79 per share, with a total value of $36,790.00. The disclosure for this purchase can be found here. 5.60% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of APPS. BlackRock Inc. grew its stake in shares of Digital Turbine by 4.5% during the 1st quarter. BlackRock Inc. now owns 10,426,749 shares of the software maker’s stock valued at $456,794,000 after buying an additional 453,301 shares during the period. State Street Corp raised its holdings in shares of Digital Turbine by 4.0% in the 1st quarter. State Street Corp now owns 2,918,181 shares of the software maker’s stock worth $127,846,000 after purchasing an additional 111,107 shares during the period. Capital Research Global Investors lifted its stake in shares of Digital Turbine by 41.7% in the 1st quarter. Capital Research Global Investors now owns 1,254,733 shares of the software maker’s stock valued at $54,970,000 after purchasing an additional 368,982 shares in the last quarter. Morgan Stanley grew its holdings in shares of Digital Turbine by 83.6% during the 2nd quarter. Morgan Stanley now owns 876,887 shares of the software maker’s stock worth $66,670,000 after purchasing an additional 399,216 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Digital Turbine by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 679,844 shares of the software maker’s stock worth $29,784,000 after purchasing an additional 18,344 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors.

About Digital Turbine (Get Rating)

Digital Turbine, Inc, through its subsidiaries, provides media and mobile communication products and solutions for mobile operators, application advertisers, publishers, device original equipment manufacturers (OEMs), and other third parties. Its application media software platform that enables mobile operators and OEMs to control, manage, and monetize devices.

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